Isle of Man shortlisted for two International Finance Centre Awards

The Isle of Man has been shortlisted for ‘Best International Finance Centre’ at the International Investment Fund and Product Awards and ‘IFC of the Year’ at the annual Citywealth International Finance Centre Awards.

Martyn Perkins MHK, Member of the Department of Economic Development with responsibility for Financial Services, commented:

‘The Isle of Man’s thriving financial services sector is testament to the Island’s strong focus on customer driven services and innovation in its product offering. Making the shortlist for two awards alongside strong competition, such as Cayman and Singapore, really highlights the continued prominence of the Isle of Man as an International Business Centre of excellence.

‘The Programme for Government commits to the continued diversification of our main financial services economy and the Department is supporting this through a number of incentives, including the £50m Enterprise Development Scheme, the Alternative Banking Regime, crowdfunding regulation and the ongoing review of the Island’s financial legislation. Working closely with industry we are developing new and innovative ways to ensure the continued growth of the existing financial services sector and further attracting new business to the Island.’

A number of local companies are also up for nomination, including RL360 who are nominated for Best International Life Group (Non-UK), Best International Protection Plan (Life) and Best International Trust and Estate Planning Product at the International Investment Fund and Product Awards.

David Kneeshaw, Chief Executive at RL360, commented:

‘As the world moves towards greater governance and transparency for consumers the Isle of Man has taken a lead, putting it at the forefront of Islands specialising in Financial Services. Sometimes being a leader requires doing the ‘right thing’ rather than the ‘easy thing’ and the Isle of Man has pointed the way for other jurisdictions to follow. What is seen as ground-breaking now will be the norm around the world within a few years.’

Local company, Canaccord Genuity Wealth, has won the award for Investment Management Company of the Year (Isle of Man) for the past three years at the Citywealth International Finance Centre Awards and are shortlisted again this year.

Dermot Hamill, Head of Wealth Management at Canaccord Genuity Wealth, commented:

‘The Island has a high calibre of financial services providers and, as always, this year the competition is fierce. Our strong award history highlights our historic growth and the depth of expertise we have on the Isle of Man. Our goal is to continue to grow our business in a way that offers a sophisticated, service oriented, performance driven and high quality investment management and stockbroking service that is capable of competing with the best overseas managers…..all from the base in the Isle of Man.’

The Isle of Man was named ‘International Finance Centre of the Year’ at the International Adviser Product and Service Awards earlier this year.

The International Investment Fund and Product Awards take place in London on 5th October 2017. The Citywealth International Finance Centre Awards take place in London on 18th January 2018.